Republican Party of Armenia

 The working conference summarizing the results of the costs and assessment of financial accountability of the Municipality under direct and practical support and assistance of the World Bank took place in the Yerevan City Hall. The Public Expenditure and Financial Accountability (PEFA) of the Municipality was carried out by the initiative of the Municipality of Yerevan and is the first experience of assessment of the system of financial management of the Municipality of Yerevan.
Deputy Mayor of Yerevan Vahe Nikoyan thanked the head of the Yerevan office of the World Bank Jean-Michel Happi on behalf of the Mayor of Yerevan for efficient teamwork.
"Today the Municipality of Yerevan already has an objectively appraised financial system. This successful program is the first step of a direct cooperation of the Municipality of Yerevan and the World Bank and we hope that the cooperation will be more inclusive. As a result of the work, based on the PEFA rates we have outlined the directions which are necessary for working out the program of financial management reforms, as well as for improvement of accountability. All this has been carried out so that the Municipality in general and the systems of financial management of the city in particular could serve as a model, free of speculations and correspond with the best international experience in this field and as an effective tool serve for the implementation of the strategic program of the system of financial management of the city", said Deputy Mayor Vahe Nikoyan.
The chief of the Yerevan office of the World Bank Jean-Michel Happi stressed that the effectiveness of the program is the result of good cooperation.
"Being the capital city Yerevan is of exclusive significance in the general system of management of Armenia as the main and key part of population and economy entities of the country is concentrated here. The aim of the implemented program is to assess the financial accountability of the community of Yerevan within the frames of PEFA performance indicators, to reveal its strong and weak points, to analyze. These appraisal can serve as an important tool for the reforms corresponding to the international standards", said the chief of the Yerevan office of the World Bank Jean-Michel Happi.
As a result of the cooperation the parties expect that the Bank will assume the part of the leader of support of these reforms so important for the Muncipality of Yerevan and in addition to direct and practical participation of the Bank, other interested organizations will unite around this important process and due to their support the Municipality of Yerevan will initiate the stage of putting the reforms into practice.